Trump said, “You’re living in poverty, your schools are no good, you have no jobs…,” blaming Democratic policies and claiming that Blacks would benefit if he’s elected.

The real estate magnate presents himself as a successful businessman who knows how to create good paying jobs. But a new investigation raises serious doubt.

Trump’s companies have at least $650 million of debt and are financially beholden to at least two investors that he’s criticized on the campaign trail, the New York Times reports.

The Times hired the property information firm RedVision Systems to search public records on nearly three dozen Trump properties and found that his actual debt is at least twice the $315 million he reported on a federal financial disclosure form.

In addition to the $650 million debt figure, The Times found that Trump has at least three passive partnerships that owe an additional $2 billion.

Trump has boasted that his financial independence means he has no obligations to special interest groups. However, The Times’ investigation painted a different picture.

The Bank of China is a lender in the $950 million loan for a Manhattan office building that Trump partly owns—a country that he has vowed to challenge over its economic practices. Also contributing to the loan is Goldman Sachs, which Trump has said controls his rival Hillary Clinton.

The financial obligations of Trump companies have long raised concerns about potential conflicts of interest if he becomes president. He would be able to impact tax and monetary policy–perhaps to benefit his own business interests and that of his partners.